SURE Program Signup Deadline is Sept. 30

Source: Corn Belt Update

Mon, 2010-09-27 15:48

SURE signup for 2008 losses ends Sept. 30

Producers have received up to $50/acre

Ad hoc disaster program for 2009

The deadline is Sept. 30 for signing up for the SURE permanent disaster program if you had a crop loss in 2008, and University of Illinois Ag Economist Gary Schnitkey says some farmers have received payments as high as $50/acre. That is not to say you will also, because calculations for SURE are more complex than for the ACRE program. Schnitkey says 10% of farmers may be able to collect depending on their location, and whether they had enrolled in ACRE.

SURE paymentsthus far have been made in the Great Plains and particularly Iowa, because its 2008 yields were relatively lower. Schnitkey says, “For SURE, a farm could have low revenue but not have a 10% yield loss. In this case, SURE would not make a payment.”

It is not SURE –the permanent disaster program – but USDA has announced an ad hoc disaster program for 2009. It only covers excess water impact on soybeans and payments will be deducted from future SURE payments. A minimum 5% yield loss is required and payment rates for soybeans will be $15.62/acre, multiplied by the number of affected acres.